McEldrew Young Client Receives $1.1 Million IRS Whistleblower Award
PHILADELPHIA (PRWEB) March 09, 2018 -- A tax whistleblower represented by Philadelphia-based law firm McEldrew Young received a $1.1 million whistleblower award from the Internal Revenue Service. The information provided by the IRS whistleblower involved the inappropriate use of an overseas corporate structure to avoid paying U.S. taxes.“Our client provided the U.S. Government with valuable information about a taxpayer avoiding payment of millions of dollars in taxes through acts that would have been difficult to detect without inside information," said Eric L. Young, a McEldrew Young Partner and the head of McEldrew Young’s whistleblower practice.
The identity of the whistleblower, a former employee of the taxpayer, has not been disclosed to the public or the taxpayer. The IRS whistleblower program permits individuals providing tips to remain confidential to the maximum extent allowed by the law. For information provided by an eligible whistleblower under Internal Revenue Code section 7623(b), the IRS offers a mandatory monetary reward of between 15 to 30 percent of the collected proceeds from tax noncompliance disputes exceeding $2 million. This section of the IRS whistleblower program was authorized by the Tax Relief and Health Care Act of 2006 and supplemented the prior discretionary award program at the IRS.
McEldrew Young represents whistleblower clients under the IRS whistleblower program, the False Claims Act, the SEC and CFTC whistleblower programs, and the Motor Vehicle Safety Whistleblower Act. A client of Eric L. Young also received the first IRS whistleblower reward under section 7623(b). “It is exciting to witness first‐hand the increased public‐private cooperation against wrongdoing from the successful expansion of whistleblower reward programs in the United States over the past decade,” said McEldrew Young Partner, Brandon J. Lauria. “We thank the hard‐working employees of the Internal Revenue Service who investigated our client’s information and took action against the perpetrator, as well as the efforts of Senator Charles Grassley to create and improve the IRS whistleblower program.”
Since 2007, information submitted by whistleblowers has assisted the IRS in collecting $3.6 billion in revenue and the IRS has approved more than $499 million in monetary awards to whistleblowers.
ABOUT McELDREW YOUNG
McEldrew Young represents whistleblowers throughout the United States and abroad reporting corporate wrongdoing to the U.S. Government through rewards programs. The firm is led by Eric L. Young and James J. McEldrew, III. McEldrew is a trial attorney and Past President of the Philadelphia Trial Lawyers Association. Young is a whistleblower attorney with a distinguished track record of success in whistleblower cases. He has represented clients in cases against some of the largest pharmaceutical companies in the world, in addition to having secured the first‐ever whistleblower reward paid by the IRS Whistleblower Office in 2011. To learn more about McEldrew Young, visit http://www.mceldrewyoung.com. For additional information or questions about the IRS whistleblower program, please contact Eric L. Young at (215) 367‐5151 or eyoung(at)mceldrewyoung(dot)com.
Eric Young, McEldrew Young, http://www.mceldrewyoung.com, +1 215-367-5151, [email protected]
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